Former Chancellor Rishi Sunak and Tom Tugendhat improved their chances of becoming the next Tory leader with their performances in the first TV debate, according to bookmakers Betfair Exchange.
The debate, aired on Channel 4, saw Kemi Bandenoch, Rishi Sunak, Liz Truss, Tom Tugendhat and Penny Mordaunt clash over tax, the trans issue and green policy.
Sunak reduced his odds from 7/2 to 11/4 while outsider Tugenhadt has seen his Tory leadership odds more than halve from 119/1 to 48/1, according to the latest odds from Betfair Exchange.
Penny Mordaunt remains the favourite but drifts slightly from 11/10 to 6/5.
Liz Truss is now in third place behind Sunak with her odds lengthening from 3/1 to 7/2 during the debate.
Sam Rosbottom from Betfair said: “According to the real-time odds movements, Rishi Sunak and Tom Tugenhadt performed best tonight, with the former Chancellor regaining second place in the Tory leadership betting.
“Outsider Tugenhadt still has a mountain to climb, but his odds more than halved from 119/1 to 50/1 while Liz Truss let her position as main challenger slip.
“Penny Mourdant remains the favourite at 6/5 but having been odds-on to become the Prime Minister through the day, she failed to capitalise on her front-running position, suggesting the race for number ten is still wide open.”
The candidates are appearing in a string of TV debates before the field is whittled down to two candidates.
